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Selling property the traditional way isn't for everyone

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Selling your home, traditionally, can be a lengthy process. Sometimes you just don’t have time to put your home on the MLS, wait for interested buyers, and then hope the potential buyer doesn’t back out or lose their financing.

There are many reasons our clients need to sell their homes quickly, including:

  • Divorce
  • Tight deadline for a move to a new city
  • Cash-out of investment properties
  • The home needs some repairs the owner can’t afford
  • Avoid foreclosure
  • Quick access to liquid funds
  • They inherited a house they don’t want or need

Why do traditional home sales take so long?

Several reasons that listing your home on the MLS will take longer than selling your home in a less conventional way include:

Preparing the home: If you want to get the best price (or any offer at all), you will have to clean your home and yard. Many agents recommend that sellers remove as many personal items from their homes as possible and stage the space to attract potential buyers.

Open houses: If you list your home on the MLS, you will have potential buyers (and looky-loos) touring your home. While you can set times that work for you, it’s not always convenient, and you’ll need to always have your home prepped for visitors.

Inspections: Once a buyer makes an offer, they’ll have the home inspected. This process allows the buyer to know any potential problems up front. If an inspection comes back with significant issues, your buyer could walk away or ask for concessions (like a lower price or requiring you to make repairs before closing).

If you opt to make repairs, this can add additional time to the sales process.

Appraisals:

In addition to an inspection, an appraiser will come to your property and determine the value of your home. While this isn’t super time-consuming, waiting for the appointment can add days to your wait. Additionally, if an appraisal comes back below your buyer’s offer, the buyer’s loan may be denied (especially with FHA loans).

Funding:

Funding issues are among the most common problems in closing a home sale. Sometimes a buyer makes an offer before they’ve gotten funding. Other times, their financing falls through for one reason or another. Suppose your home appraises for less or has severe damages. In that case, a lender may outright refuse to loan money to the buyer.

Tips for selling your home faster

If you need to sell your home faster than the average 45–60-day turnaround, there are a few things you can do to speed up the process.

Price your home wisely: If you insist on listing your home on the MLS, but you need to sell quickly, consider listing your home below the property value. An enticing price is likely to attract more potential buyers so you can offload the property quickly. Avoid overpricing your home, as this will deter potential buyers.

Offer concessions upfront: Buyers are looking for a good deal. Consider offering concessions up front. Standard accommodations you could offer include paying all the closing costs, taking care of significant damage before closing, or offering to include new appliances or furniture that aren’t typically included when selling a home. (For example, you could offer to leave the newer riding mower if you’re selling a property with a lot of land).

Time your sale right: If you want to sell your home quickly, try to sell in May. Buyers with families are more likely to look for a home they can move into once school ends. The weather is nice, and buyers are just more likely to shop around after the gloomy winter abates. (Alternatively, you could list in November or January to avoid more competition).

Sell your home to a cash buyer: The most straightforward way to sell your house the fastest way possible is to work with a cash buyer, like Brick. We purchase homes without an appraisal, walk-throughs, or closing costs. We buy houses in any condition, so you don’t have to worry about making repairs or offering concessions.

Selling to a cash buyer allows you to avoid waiting for financing and enticing strangers to stroll through your property.

Ready to sell your home quickly? Call us today and let us help you move forward without the hassle.

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Further Reading

Can you afford to sell your home?

While the market could benefit some sellers, it’s creating a host of other unique circumstances that might make selling your home less than ideal.

Tips for Avoiding Foreclosure

Avoiding foreclosure is often the best choice for a homeowner. Here are a few ways you can prevent losing your home to the bank:

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Selling property the traditional way isn’t for everyone

Selling a home is hard work. It can be stressful and time-consuming even in the most ideal circumstances. If you’re dealing with an investment property or a home that needs some major TLC, the traditional sales route might not be your best option.

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Selling a home is hard work. It can be stressful and time-consuming even in the most ideal circumstances. If you’re dealing with an investment property or a home that needs some major TLC, the traditional sales route might note be your best option.

Selling a home on the market

Selling a property through traditional means can be difficult, especially if you or your property have unique circumstances. While a real estate agent can help sell a home, properties with severe damage and some investment properties are tougher to sell. If you try to put your home on the market without the help of an agent, you could spend even more time trying to offload your property. 

Things you’ll need to think about include:

While some of these things will come up if you liquidate your home and sell for cash, the process is much faster and less expensive. 

When you shouldn’t sell a home on the market

Many sellers will opt to sell their home the traditional way: through an agent on the MLS. However, it’s not the right choice for everyone. If you’re facing one of these situations, selling your home off-market might be a better option: 

You live out of state and want to get rid of an investment property quickly

If you’re living out of state and want to quickly get rid of an investment property, liquidating the home is much faster than selling the house through traditional channels. Maintaining investment property when you live hours away can be difficult. Consider selling the property for cash, so you can focus on things closer to home. 

You want to avoid foreclosure
Foreclosure can seriously damage your credit and make it difficult to purchase another property or take out personal loans. If you’re struggling to make your monthly payments, you could sell your home for cash to avoid foreclosure. You’ll be responsible for the difference between the sales price and what you owe. However, negotiating this payment with the bank may be easier and less expensive than maintaining monthly mortgage payments. 

We even work with our sellers to ensure that they have ample time to prepare to leave the property if needed. 

When life closes a door, and you need to sell.

We buy homes at the speed of life. Request your offer today and lets build a solution that works for you.

Your property needs a lot of work
If your property needs a lot of expensive repairs, it may be faster and cheaper to sell the property as-is for cash. You can typically sell your home for money without an inspection. When a home has significant safety issues or expensive repairs, it may be impossible to sell to a regular buyer. We even buy properties that have fire and storm damage. If you’re feeling overwhelmed, we can help.

You need cash quickly
If you need cash to cover medical expenses or other debts, selling your house for cash takes much less time and effort than going through a real estate agent. We’ll help you get out of your home and get money in your account, so you can take care of your other expenses. 

You are emotionally exhausted
Investment property can be exhausting. If running multiple properties or handling difficult tenants is too much to handle, offloading the property may be the best option for your mental health. While investing in real estate can be profitable, it can also be stressful. If you want to get out quickly, selling your home for cash could be your best option. 

Whether you’re going through a divorce, can’t afford repairs, or just want to get out of your property quickly for other reasons, we’re here to help. We’re here to answer any questions you have. Let us help you move on from your property quickly and hassle-free. 

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